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Harbour Asset Management Builds Its Fixed Income Business

Harbour Asset Management Builds Its Fixed Income Business

Harbour Asset Management (Harbour) today announced the addition of Mark Brown who will move from First NZ Capital Investment Management to become Director – Fixed Income Portfolio Management at Harbour.

Harbour's chairman Graeme Wong said, “Mark has over 18 years fixed income portfolio management experience in Wellington and London, primarily in the investment team that evolved at National Mutual, AXA, and Alliance Bernstein. He brings a strong investment track record, a deep understanding of the local fixed income market, and a culture of care for clients.”

Mark Brown’s appointment further strengthens the Harbour fixed income team and follows last month’s announcement that Christian Hawkesby will join Harbour as Director - Head of Fixed Income.

Mark’s move to Harbour will also provide continuity of resources and investment process when First NZ Capital Investment Management’s Abacus NZ Bond Fund (Fund) transfers to Harbour on 31 December 2010 and becomes the Harbour NZ Corporate Bond Fund.

Harbour is assuring existing investors and supporters of this Fund, that there will be no change to the investment objective or the investment mandate. Investors will continue to access a tax efficient and diversified portfolio of quality New Zealand investment grade fixed interest securities that distribute income on a regular basis.

"I am delighted to announce Mark Brown’s appointment. It demonstrates Harbour’s commitment to invest in our business and to offer a full service asset management operation. Mark's local market background will complement Christian's global fixed income experience. This combination gives Harbour a very well-resourced, highly professional, client-focused fixed income team that will start 2011 with significant funds under management," Graeme Wong said.

ENDS

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